KLSE Stocks Review

KANGER (0170) The Story behind the Chart of KANGER INTERNATIONAL BHD

ChartStory72
Publish date: Wed, 14 Jul 2021, 09:39 PM
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Kanger 0170 
 
An update from the previous analysis, you may access the previous analysis here at: https://klse.i3investor.com/blogs/KLSEChartStories/2021-05-31-story-h1565981825-KANGER_0170_KANGER_INTERNATIONAL_BHD.jsp
 
Hoho, it's been a long time. After 1 month of ranging with no action, we might see something this time. 
 
From the previous analysis, we can see that prices got rejected exactly at the 3/1 Angle. At the same time it is also the work of the balancer as well. Notice the whole trend, prices remains below the balancer? This is because the balancer is not allowing the prices to get above it, indicating that the bankers want to make sure that prices stays low. 
 
The combination of both the Balancer + the 3/1 Angle stopped the prices from going higher. Fast Forward today, we see that prices are approaching the 3/1 Angle again. At this point in time prices need to face 2 challenges, the 3/1 as the 1st level and the Balancer as the 2nd level. If prices are able to breakthrough both, we might see a start of a new uptrend. Otherwise, a continuation downtrend will happen. 
 
Let's observe. 
 
Industry: Household Goods.
 
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